While there’s a new bitcoin futures market tradeable via some conventional futures brokers, the market remains very thinly traded, with higher margin requirements.

This and the relatively heavy vetting required for trading futures makes them only acceptable for very active and professional investors.

And of course the fact that futures are bitcoin only, eliminating access to the large selection of different opportunities in currencies such as Ethereum and Litecoin.

Detractors still refer to bitcoin along with others as fanciful coins despite the burgeoning rates of approval, and of course their monster gains. Among the reasons for the cynicism is that cryptocurrencies trade on unregulated and frequently international exchanges.

3 Cryptocurrencies You Should Know About

The fact that Tokyo-based Mt. Gox, the greatest cryptocurrency exchange at the moment, lost $450 million worth of clients’ bitcoin and descended into bankruptcy only served to fuel the negative opinion.

Luckily, there hasn’t been a high-profile exchange collapse since the 2014 Mt. Gox hacking. Make no mistake; this doesn’t necessarily mean it can not happen again.

I believe exchange risk to be the maximum risk facing investors in the significant cryptocurrencies.

The best approach to mitigate exchange risk is to diversify your holdings across a number of the most reputable exchanges.

Personally, I use three cryptocurrency exchangers, and every one has a different protocol for investing.

This guide will present you the best cryptocurrency exchanges, what they provide, and the process for purchasing your first cryptocurrency.

Coinbase also offers an active trader platform called GDAX which has various features and analytics for short-term crypto investors.

It’s relatively simple to establish an account and purchase your first cryptocurrency on Coinbase. The exchange is among the very few that permit the purchase of cryptocurrencies through U.S. dollars.

Your account is installed by clicking on the “Sign up” button on the top right-hand corner of the website. Next, you fill in the requested personal information and agree to the user agreement, and then click on the “create account” button.

You’ll then have to confirm your email and select your account type. Most of you will select individual account unless you choose to get your crypto in a different thing like an LLC.

You’ll be asked to enter your telephone number. This isn’t so the market can call you to indicate upgrades or sell it to a phone solicitor, the reason is a lot more important.

Your telephone number is used as a two-step authentication security system to help keep your account safe. When you log in to your account, Coinbase will text a code number to your phone that has to be used to log in to your account.

Changelly is one of the simplest ways of getting ahold of different cryptocurrencies. Changelly is a product of the mining pool, MinerGate, which has an established history of consistently great products being put out into the crypto-space.

Among the greatest things about Changelly is that you don’t have to go through any lengthy confirmation or registration procedure.

You simply log in with your email ID (or some other email ID) and begin exchanging! Currently, it supports over 35 cryptocurrencies together with fiat pairs like USD/EUR. It’s one of the very best and easiest to use exchanges on the market.

When you use Changelly to swap cryptocurrency, Changelly bots join in real time into some of the very best and most economical cryptocurrency exchanges in the marketplace to get you the very best price.

Usually, when using Changelly, a crypto-to-crypto exchange takes 5 to thirty minutes. They charge a commission fee of 0.5 percent on every trade, which I presume is minimum in exchange for the volatility and risk they keep on behalf of the users.

Besides this commission, a miner’s fee can also be paid by the consumer and is deducted directly from their crypto balance.

But all you need so as to purchase from Changelly is a VISA/MasterCard (credit/debit card) or some other Changelly-supported cryptocurrency and a wallet in which you need to get your new coins.

3. Gemini

Gemini is a market launched by the Winklevoss Twins of Facebook fame. The account setup is extremely similar to Coinbase, but the market is unavailable in certain states.

Though you can just exchange bitcoin and ethereum on Gemini, the market provides FDIC insurance for money balances. This is a rarity I believe a huge positive in the realm of cryptocurrency websites. Unfortunately, there’s absolutely no insurance when your money is converted to digital assets.

Kraken is an actual digital currency market offering 17 distinct cryptocurrencies for trading. There’s a three-plus level approval process with every degree more onerous than the past.

The first two levels are extremely similar to the measures of the above exchanges. Being approved for level 1 or level 2 permit full use of this exchange, but there isn’t any funding via U.S. dollars. You will need to move to cryptocurrency out of your wallet or another exchange to make trades on Kraken.

Reaching the third degree requires all the measures for the first two trades plus a selfie photograph of yourself holding a handwritten sign with the date and “for trading cryptocurrency on Kraken just” on it. Doing so reminded me of most wanted criminal flyers in the local post office.

What I enjoy about Kraken is that if offers the red-hot money payable. There are hardly any exchanges offering ripple that likewise accept USD, making Kraken one of my favorite exchanges.

Gate is a promising cryptocurrency exchange that offers all major coins. They also have a mobile app which is functional and let you trade cryptocurrencies on the move. Also, they are running a promo where they are offering 10% discount on trading fees.

Gate.io offers multiple trading pair such as BTC Market, ETH Market, USDT Market, QTUM market. The mobile app is decent for trading on the move. You can also deposit or withdraw funds using mobile app.

We welcome Cryptocurrencies experts to write for our audience. Now you can write for us and get published in Monetize.info magazine.

About StephanJ

Stephan J is the founder of Monetize.info and is making a living exclusively online since 2004. He tried and managed to make good profits on everything from Forex trading, options, website flipping, adsense, affiliate websites.His passions are cycling, fitness and he is spending a small fortune on watches and fine cigars

Check Also

One comment

Great article! Thank you for creating such detailed and easy-to-read review. But also, I think that there is a reason to include one more exchange in the list. I mean CEX. It has a layer of security means and the biggest BTC and ETH markets. Moreover, it offers buying crypto with variety of fiat currencies (https://cex.io/btc-usd), (https://cex.io/eth-eur).

Quick actions

Join our community

Our services

Recommended readings:

Get in touch

Feel free to contact us anytime by email or the form on our contact page.

We are outreach friendly:

About Monetize.info

Founded in 2004, Monetize.info is an award-winning online publication for small business owners, entrepreneurs and the people who make money online. It is one of the most popular independent small business publications on the web.

Our goal is to make sure you learn something new and valuable every day. We aim to create a community for sharing tips to monetize your skills better.

Subscribe to Blog via Email

Enter your email address to subscribe to our digital magazine and receive notifications of new posts by email.